Oasis launches first free planner software
Platform provider Oasis has built what it claims is the industry’s first free software product - a new Internet-based straight through processing (STP) adviser desktop system.
Oasis co-founder and operations director Dave Johnston says while the software is less complex than other desktop systems, it provides a “fully integrated client management syste from client interview, plan preparation, implementation, ongoing review and relationship management”.
The system has been designed as a two-way data exchange between the offices of advisers and the Oasis platform via the Internet. The group says the next version of the software - to be completed in a few months - will hold “true STP capabilities”.
Dubbed MoneyOne Office, the system has been developed internally by Oasis over the past two years for the exclusive use of the group’s clients.
The group says the offering is part of a move to capture a larger share of its clients’ funds, with advisers who use the Oasis platform, and MoneyOne Office, spending less money managing back office and client bases.
“Our decision to give this software to advisers free of charge will ensure quick penetration of our clients’ network. One they start using MoneyOne Office we are confident advisers will quickly discard the expensive software alternatives,” Johnston says.
Oasis’ clients include groups such asAvenue Capital Management,Matrix,Professional Investor Services,Australian Financial Services, Wealth Track, and Queensland-based InFocus Securities.
“In a month and a half there have been about 200 installations in advisers’ practices, which translates to more than 500 actual advisers,” Oasis Asset Management managing director Bruce Tustin says.
Tustin says these installations represents about 50 per cent of the group’s clients, with approximately 1,000 advisers currently using the platform.
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